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Retiring CEO Carol Meyrowitz is, without doubt, my pick for Retailer of the Year. Her leadership in her company, and the retail industry, is a real achievement. She is a mentor to her associates and a true visionary.

(Photo by Jeff Schear/Getty Images for T.J. Maxx)

With the exception of Ms. Meyrowitz, the retail industry is largely void of dynamic leadership. In the many times I asked a retail CEO “what is your vision for your company;” I have received few good answers. Leadership requires a bold vision of where a company should be in 10 and 20 years. Ms. Meyrowitz has a vision. Even now as she prepares to exit, she sees a near term goal of $40 Billion in worldwide sales for the company, and has a plan for how to get there.

It was very easy to select my pick for 2015 Retailer of the Year. TJX has surpassed Macy’s sales volume in fiscal 2014 and is sailing to new heights with strong momentum. I expect sales to be close to $31 Billion at the end of fiscal 2015; a unique achievement considering the very slow holiday selling season.

Peter Solomon, a leading investment banker to the retail industry for several decades, has called TJX the most under-appreciated retail company of the past 30 years. He points to Ben Cammarata and Carol Meyrowitz as the visionaries that have led this growth company beyond what most thought was possible for an off price concept. Since Carol took over as president in 2005, and then CEO in 2007, revenues have grown from $17.4 billion to $29.1 Billion as of fiscal 2014. Profit rose from $777 million to $2.2 billion.

Columbia University Professor Mark Cohen, a former CEO of a major US retailer, commented on TJX’s sustainable growth in face of growing off-price competition. He says, many retailers have embraced the off-price concept. TJX has perfected this concept with an outstanding record of success by building a strong trust and in a loyal customer base.

Carol Meyrowitz, 61, will stay on as executive chairman of the company. Her successor is the current president Ernie Herrman. He will take the helm on January 31, 2016 as CEO. Herrman is a long time member of the TJX team having led the Marshall division for many years. This seamless leadership transition continues a tradition that started when Ms. Meyrowitz took over from Ben Cammarata the company’s previous long-standing, highly successful CEO.

In 2014 Forbes Magazine listed Ms. Meyrowitz as the 76th most powerful woman in the world. In 2006 CNN ranked her the 36th most powerful Woman in Business. That is quite an achievement. At the end of the 3rd fiscal quarter, TJX operated 3,594 stores in nine countries, which included the United States, Canada, the United Kingdom, Ireland Germany, Poland, Austria, the Netherlands, and Australia as well as three e-commerce sites. Company banners include T.J. Maxx, Marshalls, HomeGoods, Sierra Trading Post, Winners, HomeSense, T.K.Maxx, and Trade Secret.

I congratulate Carol Meyrowitz on her achievements as CEO of TJX Companies. I wish her continued success, good health and happiness in the New Year.